European Commissioner for Economic and Financial Affairs Pierre Moscovici (pictured) said on Monday that he strongly believes the United Kingdom will not leave the European Union without a deal this week.
Speaking to France Info, Moscovici stressed that a no-deal Brexit would be the "worst solution for the economy" and that, despite the fact it is unlikely to happen, the EU has prepared for such a scenario. The EU official noted that the bloc is ready to allow a further Brexit delay as long as London provides an explanation of how it plans to use the new extension to ensure a deal is approved.
Last week, the UK asked the EU to extend the Brexit deadline to June 30 at the latest to allow the British Parliament to pass an agreement on leaving the bloc. EU officials are set to meet on Wednesday to decide if the UK's request will be granted or the country will exit the EU on April 12 without an agreement. UK Prime Minister Theresa May insisted that a no-deal will certainly be avoided, stressing that if Britain doesn't leave with an agreement, it will remain a part of the EU. She added that her government will continue talks with Labour in an effort to reach a cross-party consensus on a Brexit deal after May failed to get her deal through Parliament three times.